Chinese Mainland Stocks Fall Flat After Stellar Morning Performance
Dou Shicong
DATE:  Jan 21 2019
/ SOURCE:  yicai

(Yicai Global) Jan. 21 -- Stock markets on the Chinese mainland were mostly unchanged this afternoon after official data showing 2018 economic growth exceeded expectations sparked a rally in morning trading.

The Shanghai Composite Index closed up 0.56 percent at 2,610.51, with CNY140 billion (USD20.6 billion) worth of shares trading hands. The Shenzhen Component Index closed at 7,626.24, up 0.59 percent, with turnover totaling CNY173.2 billion. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, finished 0.42 percent higher at 1,274.79, with traders swapping CNY49.27 billion in stock.

The closing values were all marginally below their respective tallies at the lunch break.

Most sectors made gains, with food and beverage leading the pack to close up 2.39 percent. Insurance, chemistry, liquor and electronics also rose by more than 1 percent.

The National Bureau of Statistics published the economic growth figures for 2018 this morning, posting a record high gross domestic product of CNY90 trillion (USD13.3 trillion) -- 6.6 percent higher than a year earlier and above the 6.5 percent forecast. That compared with a 6.8 percent expansion in 2017.

Editor: James Boynton

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,Growth Enterprise Index